Transportation

We help you navigate increasing regulations, insurance compliance, economic fluctuations, seasonality challenges and changes in energy costs to find creative solutions for your business.

“Get on the road to lower taxes and higher profits”

At Meyers Brothers Kalicka, P.C., our expert knowledge of accounting, tax and financial planning has helped business owners in the transportation industry ensure their financial success while they concentrate on serving their clients.

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Transportation Professional Services

Specialized Services

Tax planning and consulting

Tax return preparation and compliance

Management advisory services

Wealth management

Business valuations

Mergers and acquisitions

Audits, reviews, compilations

Budgeting and forecasting

Financial Statement preparation

Improving internal controls

Entity selection and incorporation

Financial forecasts, budgets and projections

Controllership services

Cost control and strategic cost reduction

Employee benefit plans

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Transportation Industry Accounting Insights

Qualified Small Business Stock

By Katrina Arona • March 18, 2025

Under the right circumstances, qualified small business stock (QSBS) offers tax savings for business owners. Essentially, QSBS allows them (and their heirs) to sell their stock free of capital gains tax.

BOI Injunction Lifted

By Katrina Arona • February 19, 2025

The Corporate Transparency Act (CTA) which took effect on January 1, 2024 required "reporting companies" in the United States to disclose information about their beneficial owners to the Treasury Department's Financial Crimes Enforcement Network (FinCEN). In May 2024, a lawsuit was filed claiming that Congress exceeded its authority under the Constitution in passing the CTA. Background: December 3, 2024 in the Texas Top Cop Shop, Inc., et al. v. Merrick Garland, Attorney General of the United States, et al., Judge Amos Mazzant of the United States District Court (Eastern District of Texas/Sherman Division) issued a preliminary nationwide injunction barring the enforcement of the Corporate Transparency Act (CTA). December 23, 2024 the Nationwide Injunction is lifted and filing deadlines are reinstated. Financial Crimes Enforcement Network of the U.S. Department of Treasury (FinCEN) may again enforce the CTA. FinCEN has not extended any filing deadlines. Therefore, all reporting companies should file immediately any beneficial ownership information reports (BOIRs) that were already due, and reporting companies formed prior to 2024 should file their BOIRs by January 13, 2025 (extended from January 1, 2025). December 27, 2024 the federal appeals court on Thursday reinstated a nationwide injuction halting enforcement of beneficial ownership information (BOI) reporting requirements, reversing an order the same court issued earlier this week. FinCEN issued an updated alert on its BOI information page , saying that companies can voluntarily submit BOI reports. February 7, 2025 FinCEN will consider changes to the BOI reporting requirements if a court grants the government's request for a stay of a nationwide injunction in a Texas case, according to a motion filed Wednesday, February 5th. If the stay is granted, FinCEN will extend BOI filing deadlines for 30 days, the government said in its filing in Samantha Smith and Robert Means v. U.S. Department of the Treasury, No. 6:24-CV-336 (E.D. Texas 1/7/25). BOI reporting is currently voluntary, pending further legal developments. Businesses and stakeholders should stay alert for additional updates as the situation evolves. Current Status: February 18, 2025 A federal court lifted the last remaining nationwide injunction stopping BOI reporting requirements. FinCEN which enforces BOI requirements under the CTA said it would extend filing deadline for initial, updated, and/or corrected BOI reports to March 21. However, reporting companies that were previously given a deadline later than March 21 may file their initial BOI report by that later deadline. Resources for consideration: March 21 BOI reporting deadline set; further delay possible BOI Injunction Lifted FinCEN BOI Center

BOI Reporting Update

By Katrina Arona • February 6, 2025

February 7, 2025 FinCEN will consider changes to the BOI reporting requirements if a court grants the government's request for a stay of a nationwide injunction in a Texas case, according to a motion filed Wednesday, February 5th. If the stay is granted, FinCEN will extend BOI filing deadlines for 30 days, the government said in its filing in Samantha Smith and Robert Means v. U.S. Department of the Treasury, No. 6:24-CV-336 (E.D. Texas 1/7/25). BOI reporting is currently voluntary, pending further legal developments. Businesses and stakeholders should stay alert for additional updates as the situation evolves

Real People. Real Stories. Real Results.

"We have been working with MBK for over 30 years. Although they do a great job handling our accounting and tax needs, more importantly, they are our business partner. Over the years they have provided key advise on acquisitions and sales, estate planning, financing and a host of other business topics. We consider MBK one our team members and highly recommend them!"

Brian S. | Peter Pan Bus

"We have never had any problems with our services received in 17 years. The service has always been exceptional and my questions have always been answered in a timely manner. Everyone that I have had interactions with have always been professional and cared about our business."

Andrea G. | Electro-Term, Inc.